Strongbridge Biopharma plc (NASDAQ:SBBP) Sees Large Drop in Short Interest

Strongbridge Biopharma plc (NASDAQ:SBBP) was the recipient of a large drop in short interest in August. As of August 31st, there was short interest totalling 1,125,500 shares, a drop of 16.2% from the July 31st total of 1,343,000 shares. Based on an average daily volume of 182,800 shares, the days-to-cover ratio is presently 6.2 days. Currently, 3.3% of the shares of the stock are sold short.

NASDAQ:SBBP traded up $0.18 during mid-day trading on Friday, reaching $2.88. The company’s stock had a trading volume of 8,768 shares, compared to its average volume of 160,951. The company’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $3.59. Strongbridge Biopharma has a twelve month low of $2.07 and a twelve month high of $6.52. The stock has a market cap of $150.65 million, a P/E ratio of 9.21 and a beta of 0.82.

Strongbridge Biopharma (NASDAQ:SBBP) last issued its quarterly earnings results on Wednesday, July 31st. The biotechnology company reported ($0.30) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.01. Strongbridge Biopharma had a return on equity of 49.92% and a net margin of 181.52%. The firm had revenue of $6.08 million for the quarter, compared to analyst estimates of $4.82 million. On average, equities analysts predict that Strongbridge Biopharma will post -1.29 earnings per share for the current fiscal year.

A number of research firms recently commented on SBBP. Zacks Investment Research cut Strongbridge Biopharma from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. HC Wainwright reiterated a “buy” rating on shares of Strongbridge Biopharma in a research report on Thursday, August 1st. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Strongbridge Biopharma has an average rating of “Hold” and an average price target of $10.38.

A number of large investors have recently modified their holdings of SBBP. BlackRock Inc. boosted its stake in Strongbridge Biopharma by 290.6% in the 2nd quarter. BlackRock Inc. now owns 2,285,832 shares of the biotechnology company’s stock worth $7,154,000 after buying an additional 1,700,601 shares during the last quarter. Vivo Capital LLC acquired a new stake in Strongbridge Biopharma in the 1st quarter worth about $4,552,000. River & Mercantile Asset Management LLP acquired a new stake in Strongbridge Biopharma in the 2nd quarter worth about $1,445,000. D. E. Shaw & Co. Inc. boosted its stake in Strongbridge Biopharma by 25.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 950,081 shares of the biotechnology company’s stock worth $2,973,000 after buying an additional 192,760 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its stake in Strongbridge Biopharma by 208.0% in the 2nd quarter. Renaissance Technologies LLC now owns 166,300 shares of the biotechnology company’s stock worth $521,000 after buying an additional 112,300 shares during the last quarter. 52.25% of the stock is currently owned by hedge funds and other institutional investors.

About Strongbridge Biopharma

Strongbridge Biopharma plc, a commercial-stage biopharmaceutical company, focuses on the development and commercialization of therapies for rare diseases with unmet needs. The company's commercial products include Keveyis, an oral carbonic anhydrase inhibitor for treating hyperkalemic, hypokalemic, and related variants of primary periodic paralysis in the United States; and Macrilen, an oral growth hormone secretagogue receptor agonist for use in the diagnosis of patients with adult growth hormone deficiency.

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